State and Local Tax

For many businesses, state and local taxes account for a large percentage of their overall tax liability. The current state and local tax environment presents a demanding set of challenges businesses must address. State taxing authorities are looking for ways to maximize tax revenue.

To successfully comply with state and local tax requirements and avoid scrutiny by state taxing authorities, it is important to accurately assess where your organization is conducting business, address the specific tax requirements within those states and comply with the corresponding state and local statutory and regulatory responsibilities. Knowledgeable and experienced state and local tax advisors can ensure compliance with filing requirements and identify credits and incentives that can control your tax liability.

Our areas of expertise related to state and local tax services include:

Credits and incentives
Income tax
Gross receipts tax
Net worth/franchise tax
Sales and use tax
Property tax
Employment tax
Abandoned and unclaimed property tax

Our state and local tax team provides specific assistance with nexus issues, organization structure and state apportionment, as outlined in the following examples:

Nexus issues - help identify tax exposures and provide alternatives to fix/resolve them.
Organizational structure - review/adjust current operations to increase tax efficiencies and/or minimize state and local tax exposures.
State apportionment - apportionment formulas vary greatly among the states; review the methodology and factors used; look into rules applicable to specific situations

The experienced state and local tax professionals at Brown Smith Wallace offer a SALT Review that can result in significant tax savings for your organization by identifying financial incentives and implementation of long-term strategies. It is our expertise and attention to detail that can help your organization save from several thousand dollars to over a million dollars.

Learn More from our Case Studies